Friday's Headlines December 23, 2011

New York, Home to the ArtsThis thoughtful article about the deaths of two iconic New Yorkers and the dynamic arts spaces they created — Olga Bloom of Bargemusic and Anthony Amato of the Amato Opera — suggests that New York City no longer generates stable homes for cultural organizations.

‘Corzine conflict’ hand-wringingMayor Bloomberg’s top aides say the city should not play a lead role in trying to recoup millions from Jon Corzine and his bankrupt MF Global investment firm because city Comptroller John Liu has too many conflicts in the case, The Post has learned.

AIG icon goes to Metro LoftThe sale of the iconic downtown skyscraper at 70 Pine St. closed yesterday for $205 million to Metro Loft Management.

Crains

Business rebuffed by labor on Cuomo reform panelControversy flared this week at a meeting of Gov. Andrew Cuomo's usually sleepy regional economic development council for the city. Business and labor advocates on the council's regulatory reform committee sparred over four proposals to axe or weaken laws that protect workers but burden employers, insiders said.

Shocking year-end cheerIf the U.S. stock market can handily outperform not just Europe (how hard can that be these days?), but Brazil and even mighty China, maybe we should all rethink 2012. But it’s true. As the year draws to a close and the year-to-date S&P 500 hovers near the break-even point, that performance looks like a world-beater. And that’s not all. Take a good look at some other year-end upside shockers. Weekly claims for jobless benefits stand at three-and-a-half-year lows, consumer confidence rose to its highest point in six months despite Europe’s implosion (not to mention the dispiritingly quick end of Kim Kardashian’s $18 million marriage), and the Conference Board’s Leading Economic Index—as reliable a crystal ball as anybody else’s—is glowing rosier by the day. And then there’s what looks to be a last-minute deal in Congress to extend the payroll tax cut, and the fact that nobody this week has apparently said that the euro is toast. Wow!

EU near agreement for 666 Third Ave.This $40.5 million space will replace its current office on East 41st Street, which it must vacate by late July. The building it within walking distance of the United Nations headquarters.

New Sky High In ManhattanDespite sluggish sales in the rest of the Manhattan apartment market, demand for New York's most-expensive trophy properties has been soaring, drawing multimillionaire buyers from around the world and even some at home.

Not for a Lack of LoveThe coffee at Tillie's in Fort Greene was never the draw. No, as regular Julie Miller said bluntly: "The coffee sucks. I complain about it all the time. We all say it's bad as we're buying it."

Lehman Retains Advisor Gleacher for ArchstoneIn the midst of a fight among owners over how to unwind Archstone, the giant apartment company, the estate of Lehman Brothers Holdings Inc. has retained Gleacher & Co. to advise on the failed bank’s largest remaining real-estate asset.

Why Hard Times Can Make Great BuildingsA slow economy is hard on architecture, except when it isn't. As the best buildings of 2011 amply show, closer scrutiny to the bottom line and even the need to lop off extras can lead to a sharper and more forceful design.